New management at Schlitterbahn announced layoffs Friday at two of its water parks in order to "streamline operations and drive efficiencies" two months after an ownership change.

Cedar Fair Entertainment Company said in a statement Friday the company will eliminate some positions at the corporate and park levels at Schlitterbahn Waterpark and Resort New Braunfels and Schlitterbahn Waterpark Galveston. The company plans on providing outplacement services for the people affected by the layoffs.

After purchasing the water parks July 1 for $261 million Cedar Fair intends to invest about $20 million to update and refresh areas of Schlitterbahn water parks.

Read More